Shaktikanta Das, India’s former economic affairs secretary has been appointed as 25th RBI Governor. He has been appointed after the resignation of Urjit Ravindra Patel who served as the 24th Governor of the Reserve Bank of India for nearly 2 years and decided to step down on 10th December abruptly.
Shaktikanta Das has been appointed as the new RBI Governor by ACC (Appointments Committee of the Cabinet) on 11th December 2018 for three years.
After the resignation by Urjit Ravindra Patel, Shaktikanta Das has been appointed as the new RBI Governor. Read full text of Urjit Patel’s Resignation:
"On account of personal reasons, I have decided to step down from my current position effective immediately. It has been my privilege and honor to serve in the Reserve Bank of India in various capacities over the years. The support and hard work of RBI staff, officers and management has been the proximate driver of the Bank’s considerable accomplishments in recent years. I take this opportunity to express gratitude to my colleagues and Directors of the RBI Central Board and wish them all the best for the future."
With the majority of the responses being positive, the appointment of Mr. Das will prove to be successful. Like successful tenure of former RBI Governors with IAS background, it is expected that Shaktikanta Das will do well.
His appointment was criticized by many, that being a History student(MA) how will he deal with the financial policies.
When Prime Minister Narendra Modi announced the currency ban in November 2016, Shaktikanta Das was the economic affairs secretary and had a huge task of normalizing RBI’s relations with the government and reassuring about the direction of the central bank’s policies to the financial markets.
He also proposed an idea of putting indelible ink on the index fingers of people so that people cannot exchange old currency beyond specified limits. This idea was later withdrawn.
Shaktikanta Das was born on 26th February 1957. He is a retired IAS Officer, 1980 batch of Tamil Nadu cadre and a bureaucrat who served under both NDA and UPA governments.
Earlier, Mr. Das was a member of the Fifteenth Finance Commission of India and India's Sherpa to the G20 (Group of Twenty).
As an IAS Officer, our new RBI Governor Mr. Das served in various capacities for Indian and Tamil Nadu governments:
Economic Affairs Secretary of India
Revenue Secretary of India
Fertilizers Secretary of India
Shaktikanta Das was also appointed as the Union Revenue Secretary by ACC in June 2014.
Here are the educational qualification of the new RBI Governor, Shaktikanta Das:
Schooling from Demonstration Multipurpose School, Bhubaneswar.
Bachelor of Arts (BA) in History from St. Stephen's College.
Master of Arts (MA) in History from St. Stephen's College.
Advanced Financial Management Course from IIM Bangalore.
Development Banking and Institutional Credit Course from NIBM.
Various In-service professional training from various Institutes from 1985-1996.
Diploma in Basic Project Management from Administrative Staff College of India.
Mid-career level training from IIM Calcutta.
Here are some of the facts about the new RBI Governor, Shaktikanta Das:
Shaktikanta Das launched the new Indian Currency notes with Urjit Patel after the demonetization in 2016. He was a key face in the entire drive.
Despite being a student of History, he mainly dealt with Economics and Finance throughout his career.
Shaktikanta Das loves reading and writing. He speaks Odiya, Tamil, Hindi, and English.
As a farewell gift, the government gave Mr. Das a Rs 1 note with his signature when he retired as secretary, Department of Economic Affairs, in May 2017.
So, here is the complete details about Shaktikanta Das. Share this useful information with others and let them know about the new RBI Governor.